Halifax mortgage rejection

Merlynanne

Hi I was wondering if anyone else has had any problems with the Halifax. We went through a mortgage broker to see if we could get a mortgage after seeing a property we wanted. At this point, we purposely did NOT put an offer in as we knew we would need a gifted deposit to be able to buy at the moment (we are saving, but this property was perfect!). Because of this the broker could only find one mortgage lender willing to take us on.

We then completed all the information online and sent off all additional id requested and gave details for the valuation fee to be taken from our debit card. As the result online had come back as a resounding yes (they actually wanted to give us more than we asked for!) we went ahead an put an offer in on our dream house, handed over all the paperwork to the estate agents to confirm our offer etc. At this point we checked with our broker whether it would be wise to put in our notice on the rental property we are living in at the moment, just so we could move as quickly as possible. Needless to say that as we had received an affirmative from the Halifax online he said yes. The offer was accepted unconditionally by the seller and we were advised to start proceedings with our solicitor, which we did.

The Halifax went ahead and took the payment for the surveyor and nothing more was done for approximately 2 weeks, there were numerous calls between our broker, estate agents and the Halifax and each time our broker was assured that everything was ok in this time.

We then found out at least two weeks after being accepted online that the Halifax had rejected our application, they would not give an explaination as to why and it was confirmed that it was not due to the affordability or our credit rating as this would have been picked up at the online application stage. We appealed against this decision and also requested a reason for the rejection once again, we also asked for a refund of the valuation fee as the surveyor never actually went out to the property. Our broker also called to request a refund and was assured it would be refunded.

One week later, no refund, my husband called and was told the payment was refunded directly to his debit card. Another week later, still no refund, husband rang again and again was told that the funds would be refunded. It took over a month to get our money back, because of this we have lost interest on it as it would have been put back into our savings account.

We are currently appealing with the FSA to try and find out why the Halifax rejected us as they wrote to us and said that they "don't have to tell us" this is very distressing not being able to work out why we were not allowed after passing all the online checks.

If anyone out there has any advice or information I would be most indebted, I work in the mortgage/banking business myself and am very worried about this situation as I do not understand why this has happened.

Thank you for reading, sorry for the long post but I am worried sick.

Anna:eek:

Thrugelmir

We are currently appealing with the FSA to try and find out why the Halifax rejected us as they wrote to us and said that they "don't have to tell us" this is very distressing not being able to work out why we were not allowed after passing all the online checks.

The online application is only part of the process. It still requires human intervention to actually approve it.

A lender can decline as they see fit.

Best to move on and find an alternative lender than waste your time.

GMS

Was the deposit gifted by a family member or the vendor?

What percentage of the purchase price was the gift?